“We have a great deal of respect for Tim Tebow,” coach Rex Ryan said. “Unfortunately, things did not work out the way we all had hoped.”

Tebow has been one of the NFL’s most recognizable players after entering the league in 2010 as a former Heisman Trophy winner. He led the Broncos to a 2011 AFC West title after becoming the starter at midseason, but has never been able to shake question marks about his playing ability and his unorthodox passing style.

Tebow was expected to bring a multifaceted attack to the Jets from the QB position - albeit in a support role behind starter Mark Sanchez - but was ineffective both running and passing the ball. He appeared in just 12 games.

The Jets have a plethora of quarterbacks, including Sanchez, so Tebow was unlikely to compete for significant playing time.

It’s unknown if Tebow will have any suitors among other NFL teams. If none emerge, he may have to pursue an opportunity in the Canadian Football League in order to continue his career.